With a cumulative total office stock of 96 million sq ft (grade-A) space and vacancy rates of 4 – 5 %, Bengaluru is looking at a shortfall in office space supply.
Demand for the current year would be around 10 million sq ft but supply coming up would be 8 – 8.5 million sq ft, said Anuj Puri, chairman & country head, Jones La Lasange India.
"In 2015, 14-15 million sq ft of space was leased out, (including pre-leased space) while the completion of office space was 7.2 million sq ft and with the trend of leasing remaining strong, there is a strong likelihood of shortfall in the office supply.
Bengaluru has always seen a well-matched demand-supply ratio every year with the absorption generally matching the supply position.
But, in the ...